Arab revolts drive pain at the pumps

$1.30 a litre gas arrives again in Metro Vancouver

Gas prices in Metro Vancouver climbed to an average of $1.30 per litre March 4.

Average gas prices in Metro Vancouver climbed above $1.30 per litre Friday amid growing concerns about the potential disruption of crude oil supplies as a result of the Middle East crisis.

The pump price is now about 10 cents higher than it was a month ago and at the highest level since mid-2008.

Crude oil prices have shot up to well over $100 a barrel in anticipation the threat of revolution or civil war may spread to more countries as protesters try to topple Arab dictators.

Energy consultant Michael Ervin said retail gas prices could well climb higher this spring, typically the peak driving season when higher demand tends to lift prices.

That would certainly happen if oil prices also rise further, but could happen even if they stabilize close to current levels.

The highest price Metro Vancouverites have ever paid for gas was $1.50 per litre in July of 2008. Crude oil peaked at US $147 per barrel that same month.

Up to a million barrels of daily oil production is shut down in Libya.

Libyan oil typically goes to Europe, but buyers there will look elsewhere, driving up demand and prices on other sources.

Oil traders are also pricing in the possibility the pro-democracy revolutions may spread and cripple production at other oil-producing countries.

– with files from CTV

 

Vancouver Historical Gas Price Charts Provided by GasBuddy.com

 

Lowest Gas Prices in Vancouver

Vancouver Gas Prices provided by GasBuddy.com

Just Posted

VIDEO: Farmer lighting up 64 years of Christmas in Langley

A private light display near Williams Park in rural Langley continues to attract some spectators.

VIDEO AND PHOTOS: Langley firefighters take Santa for a ride

Seasonal fundraiser through Walnut Grove and Brookswood swaps candy canes for Food Bank donations

Christmas bird count is Dec. 30

The Langley and White Rock Naturalist clubs invite the public to help

Langley church prepares massive meal

A local chef and parishioners are taking charge in the kitchen for St. Joseph’s 25th annual dinner.

Giants ‘stuff’ Cougars

Vancouver blanks Cougars on Teddy Bear Toss night at Langley Events Centre

VIDEO: Langley Christmas Bureau braces for busy toy distribution days

Volunteers spent the weekend sorting gifts donated for kids from Langley’s underprivileged families.

SLIDESHOW: A ‘bear’y good time at Giants games

The fur was flying as the Vancouver Giants celebrated their annual Teddy Bear Toss at the Langley Events Centre

UPDATE: Grizzly bear trophy hunting over in B.C.

Now only Indigenous people can hunt bears for meat

Star Blue Jays announced for Vancouver ‘Winter Tour’ event in January

Toronto’s pro baseball team heads west for two-day event

UPDATE: ‘Multiple fatalities’ as Amtrak derails over the I-5 in Washington State

13 cars jumped the tracks as train made its first voyage between Seattle and Portland

Mental effects of wildfire still linger in Fort McMurray

‘Resilient, but tired:’ Mental effects of wildfire lingering in Fort McMurray

Climate change hits Winter Olympic preparation

AP Exclusive: Climate change hits Winter Olympic preparation

5 to start your day

Owl found dead in South Surrey draws concern, Vancouver promoter bans Nazi symbols at shows and more

Calgary Flames thump Vancouver Canucks 6-1

Mark Giordano, Sam Bennett lead the way as Flames thump Canucks 6-1

Most Read